The cost of customer acquisition in the digital age is a hot
topic. Much has been written about it, and consultants are cashing in. Lon
Safko has trained over 500 executives in large companies in the last three
years. Yet whenever he addresses the subject of customer acquisition and
asks, “Who here knows their cost of customer acquisition?” not a single
hand goes up. While these clients work in many different industries, the near-uniform
response speaks to the significant changes that are occurring in the digital
age. Not a day seems to go by without new developments on the topic.
Historically, many have defined the cost of customer
acquisition (CAC) as the advertising and marketing costs associated with convincing
a potential customer to purchase a product. Others have defined the term more broadly
by including the cost of the customer experience – everything from finding, servicing
and retaining the customer. This end-to-end customer cost is based on the
premise that consumers choose a product because of how they are treated
throughout their entire experience.
- Introduction to Customer Acquisition
- Delivering the Digital Customer Experience
- Being Everywhere Without Being Everywhere
- New Customer Acquisition: A Simple Shopping and Purchasing Example
- The Post-Purchase Experience
- Retention: More Important Than Acquisition?
- Data, Data, Data
- The Digital Customer Experience: A Better or Worse Bottom Line?
- Metrics Matter